PAYMENTS FOR WOOL.

Taranaki Daily News, 4 February 1920, Page 5

PAYMENTS FOR WOOL.

IMPERIAL GOVERNMENT'S' PROFITS NEW ZEALAND'S SHARE. By Telegraph.-*-Press Association. Wellington, Last Night. A statement was made by the Prime Minister relating to the surplus profits on wool resold by the Imperial Government, in which profits New Zealand producers share equally with the Imperial Government. Mr. Massey said: "It will doubtless be of interest to wool growers to know that the latest reply received to the representations made by the Government to the Imperial authorities for an early settlement of interim accounts to enable the distribution of the Dominion's share of profits on wool transactions under the Imperial Government requisition to be made to growers, is to the effect that a final settlement of the question is impossible until an agreement is reached with the various Allied Governments as to rebates on ■wools disposed of to those Governments who are entitled to. inclusion in the partnership arrangement with the Dominion. "It is pointed out that the whole matteV is of great magnitude, and the difficulties have been accentuated owing to the drastic and compulsory reduction in the etaffa of the Imperial- Government departments concerned. Growers may accept my assurance, however, that no effort will be spared to secure a. settlement in the shortest possible time, and preparations have already been made at this end which will ensure a prompt distribution when the necessary particulars are received from London, and the funds made available. "While on this subject I would point out that so much has been stated in Press reports regarding the enormous profits made by the Imperial Government on its Australasian wool purchases that it will do no harm to examine the position as far as New Zealand wools are concerned, and may avoid disappointment to those growers who are basing their estimates on the information referred to, and may have an exaggerated idea of the amounts they are really to receive. Very high prices have been realised fit London sales, but it is a far cry from the coarse to medium greasy crossbred to the special lines of superfine scoured wool for which extreme prices have been paid In London. However, the prospects appear very good of a large aggregate sum ultimately being made available to New Zealand growers, which it is proposed shall be distributed as promptly as possible as instalments are made available by the Imperial Government."